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Quarterly Report For The Financial Period Ended 30 September 2018

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Unaudited Condensed Consolidated Statements Of Comprehensive Income
For The Financial Period Ended 30 September 2018

Unaudited Condensed Consolidated Statements Of Comprehensive Income


Unaudited Condensed Consolidated Statements Of Financial Position
As At 30 September 2018

Unaudited Condensed Consolidated Statements Of Financial Position

Review of Performance for the Current Quarter and Financial Year-to-date

The Group total revenue for the current quarter is RM3.08 million derived wholly from IT business segment as the Group had deconsolidated of the wholly-owed subsidiary, IDB Interactive Sdn Bhd (online games business segment) from the financial statements of the Group in the previous year.

The Group recorded a loss before taxation of RM0.28 million in the current quarter mainly due to decrease in revenue cope with the high administrative expenses on amortization of the leasehold office shoplots of RM 0.22 million.

The review of performance for the current quarter by operating business segment is as follows :-

  1. IT Business

    The revenue for the current quarter is RM3.08 million compared to RM4.09 million in the correspondence quarter a year ago, a decreased of 24.69%. The revenue was slowed down mainly due to the market uncertainty and other factors which includes but not limited to political landscape changes and tax regime alteration. Moreover, most of the potential IT projects have been on hold or deferred.

    The IT business segment has recorded a profit before taxation of RM0.23 million in the current quarter compared to a profit before taxation of RM0.43 million a year ago. This is mainly due to the lower revenue.

  2. Investment Holding

    Investment holding company has been identified as the new segmentation following the deconsolidation of online game business segment in the audited financial statements for the financial period ended 30 June 2018.

    The revenue for the current quarter is RM0.30 million which comprises of management fees received or receivable from its subsidiaries. The investment holding segment has recorded a loss before taxation of RM0.52 million mainly due to the high administrative expenses on amortization of the leasehold office shoplots of RM 0.22 million.

Future Prospects

The business environment of the Group remain challenging and competitive in the remaining year 2018. The management will continue to explore new business opportunity on its core activities in IT business to sustain the performance of the Group.